state regulators

Despite threats of big fines by state banking regulators, the owner of a Shadyside (Pittsburgh, Pa) ice cream shop who opened his own version of a community bank last summer isn't abandoning his mission.

"We are taking on the challenge of transforming the retail banking industry," his website states.
"PA dept of banks threatening us ... we keep growing," he tweeted in late December.

Instead of deposits he is offering "never-ending gift cards." (More hilarious examples of how this ice cream shop/bank owner is getting around regulations in the article).